Option Prices as Probabilities

Option Prices as Probabilities

Author: Christophe Profeta

Publisher: Springer Science & Business Media

Published: 2010-01-26

Total Pages: 282

ISBN-13: 3642103952

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Discovered in the seventies, Black-Scholes formula continues to play a central role in Mathematical Finance. We recall this formula. Let (B ,t? 0; F ,t? 0, P) - t t note a standard Brownian motion with B = 0, (F ,t? 0) being its natural ?ltra- 0 t t tion. Let E := exp B? ,t? 0 denote the exponential martingale associated t t 2 to (B ,t? 0). This martingale, also called geometric Brownian motion, is a model t to describe the evolution of prices of a risky asset. Let, for every K? 0: + ? (t) :=E (K?E ) (0.1) K t and + C (t) :=E (E?K) (0.2) K t denote respectively the price of a European put, resp. of a European call, associated with this martingale. Let N be the cumulative distribution function of a reduced Gaussian variable: x 2 y 1 ? 2 ? N (x) := e dy. (0.3) 2? ?? The celebrated Black-Scholes formula gives an explicit expression of? (t) and K C (t) in terms ofN : K ? ? log(K) t log(K) t ? (t)= KN ? + ?N ? ? (0.4) K t 2 t 2 and ? ?


Public Policy: Politics, Analysis, and Alternatives, 4th Edition

Public Policy: Politics, Analysis, and Alternatives, 4th Edition

Author: Michael E. Kraft

Publisher: CQ Press

Published: 2013

Total Pages: 593

ISBN-13: 1452202745

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All too often, public policy textbooks offer a basic grounding in the policy process without the benefit of integrating the use of policy analysis. Kraft and Furlong, since their first edition, take a different tack. They want students to understand how and why policy analysis is used to assess policy alternatives--not only to question the assumptions of policy analysts, but to recognize how analysis is used in support of political arguments. To encourage critical and creative thinking on issues ranging from the financial bailout to rising gas prices to natural disasters, the authors introduce and fully integrate an evaluative approach to policy. Public Policy starts with a concise review of institutions, policy actors, and major theoretical models. The authors then discuss the nature of policy analysis and its practice, and show students how to employ evaluative criteria in six substantive policy areas. Public Policy arms students with analytic tools they need to understand the motivations of policy actors--both within and outside of government--influence a complex, yet comprehensible, policy agenda. Enhancements to the 4th edition: - All chapters have been comprehensively updated to include recent events, issues, and policy debates including the conduct of the wars in Afghanistan and Iraq, the use of private contractors for military support and operations, the rising cost of gasoline and disputes over energy policy and climate change, the controversy over immigration policy, requirements for financial regulation, heightened concerns over economic and social inequality, and the clash over reforming taxes and entitlement programs, as well as dealing with the federal deficit and national debt. - New and updated "working with sources" and "steps to analysis" features help students investigate sources of information and apply evaluative criteria. - New and updated end-of chapter discussion questions, suggested readings, and web sites.


The Homeschooling Option

The Homeschooling Option

Author: L. Rivero

Publisher: Springer

Published: 2016-04-30

Total Pages: 227

ISBN-13: 0230610897

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Correcting misconceptions through profiles of diverse families, Rivero uncovers the changing and complex needs of children today. This book addresses the major questions parents are bound to have as they consider the homeschooling option: socialization, curriculum, special needs arrangements, resources, and more.


Therapeutic Exercise for Musculoskeletal Injuries 4th Edition

Therapeutic Exercise for Musculoskeletal Injuries 4th Edition

Author: Houglum, Peggy A.

Publisher: Human Kinetics

Published: 2016-05-18

Total Pages: 1168

ISBN-13: 1450468837

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Updated with the latest in contemporary science and peer-reviewed data, Therapeutic Exercise for Musculoskeletal Injuries, Fourth Edition, prepares students for real-world applications while serving as a referential cornerstone for experienced rehabilitation clinicians.


EMPLOYEE ASSISTANCE PROGRAMS: Wellness/Enhancement Programming (4th Ed.)

EMPLOYEE ASSISTANCE PROGRAMS: Wellness/Enhancement Programming (4th Ed.)

Author: Michael A. Richard

Publisher: Charles C Thomas Publisher

Published: 2009-02

Total Pages: 429

ISBN-13: 0398085617

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This landmark text discusses current issues and trends to help employee assistance and human resource professionals do their jobs better and help people live happier, more productive lives by providing them with the resources to deal with personal problems. The current spiraling and escalating rate of change within the business and working world, fueled by other events and phenomena since September 11, 2001, were the impetus and driving force behind the initiative and development of this new fourth edition. This book contains 43 chapters; a total of 21 are from the first two editions, eleven were written specifically for the third edition, and eleven new chapters were exclusively written for this new fourth edition. While savoring the still pertinent, meaningful and relevant-to-today materials from the previous editions, there are nine new updates, written by an all-star team of experts in their respective areas. The topics include history and philosophy, structure and organization, client services and characteristics, program planning and evaluation, professional and paraprofessional training and development, special issues, selected examples and future directions. An excellent textbook for college and university courses and preparation source, this book is a must for professionals wanting to be up-to-date on employee assistance programming, for students in graduate courses and seminars, for college and university courses, and in-service training and continuing education programs.


How to Handle Your Emotions

How to Handle Your Emotions

Author: June Hunt

Publisher: Harvest House Publishers

Published: 2008-07-01

Total Pages: 386

ISBN-13: 0736932682

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The first of an exciting new series of topical counseling resources offering God's truth for today's problems! Every person struggles with the common emotions related to... anger depression fear rejection self-worth How can we prevent negative emotions from getting the best of us? Longtime biblical counselor June Hunt looks to the Bible for the answers, offering compassionate guidance that encourages the heart and offers hope for even the most difficult situations. Each of the above topics is explored in four parts, examining the definitions, the characteristics, the causes, and the solutions that enable us to handle our emotions in ways that honor God and bless the people around us. At every step of the way, valuable insights are gleaned from Scripture. Written with a strong emphasis on practical applications that make a lasting difference, this guide is perfect for use by individuals, friends, small groups, and ministry workers.